The global VoLTE subscriber base is on track to grow at an impressive 100% CAGR over the period from 2014 to 2019, driven by factors such as an increase in the deployment of LTE networks.
This is one of the findings of an analysis of the segment by Infiniti Research. The report shows that global VoLTE commercial network deployments are growing at a CAGR of 36%.
It predicts that by the end of 2020 VoLTE subscribers will account for nearly $120 billion in revenue, with over 12% of this coming from video calling and supplementary services.
Other factors attributed as influencing the strong growth include a rapid increase in shipments of LTE-enabled smartphones and increasing demand for quality voice services among consumers.
APAC is a major promising market for VoLTE services due to the early adoption of LTE in the region, the report notes.
Infiniti Research singled out Asian operators including Bharti Airtel, Celcom Axiata, Dtac, Smart, Tata DoCoMo, KT, SK Telecom and Telstra as being some of the key players in the global VoLTE market. Key VoLTE vendors meanwhile include Nokia/Alcatel-Lucent, Huawei, and Ericsson.